May 6, 2014
Tuesday Edition
Update on Congressional letter on risk based capital

For more than a week, the League's governmental affairs team has been encouraging members of Congress to weigh-in on the NCUA’s risk-based capital proposed rule. More than 110 representatives have expressed concern with the rule by agreeing to sign onto a letter to NCUA authored by Reps. Peter King (R-NY) and Gregory Meeks (D-NY).

Representatives from Alabama and Florida to sign on include:

  • Spencer Bachus (R-AL)
  • Gus Bilirakis (R-FL)
  • Ander Crenshaw (R-FL)
  • Alcee Hastings (D-FL)
  • Patrick Murphy (D-FL)
  • Rich Nugent (R-FL)
  • Bill Posey (R-FL)
  • Tom Rooney (R-FL)
  • Dennis Ross (R-FL)
  • Debbie Wasserman-Schultz (D-FL)
  • Daniel Webster (R-FL)
  • Frederica Wilson (D-FL)

At least two to three more from Alabama and Florida are considering signing on. The deadline to sign is May 8. The League will continue to follow up with the remaining members of Congress this week. 

Credit unions are strongly encouraged to write a comment letter ahead of the May 28 deadline. The League has many resources available on the Risk-Based Capital Resource webpage.   

Return to Top
Washington wire

It is going to be another significant week for credit union issues. This week credit unions can expect action on several credit union regulatory relief priorities before Congress.

Here is what you need to know about credit unions on Capitol Hill this week:

  • On Tuesday, the House will consider three bills on which CUNA has testified in support, including two bills that would provide regulatory relief specifically to credit unions.
  • On Wednesday, the House Financial Services Committee will meet to mark up 15 bills, including four bills affecting financial institutions. The League and CUNA supports several of these bills.
  • Work continues behind the scenes on patent reform and housing finance reform.

For more on the above topics, plus this week's floor schedules click here.  

Return to Top
InfoSight spotlight: Accounts and Investment Channel Updates
Two news topics on the Accounts and Investment Channels address the requirements for ‘Charitable Donation Accounts' and investments in 'Derivatives.' The NCUA has issued rules and guidelines on these topics.

Click here for the Charitable Donation Accounts Topic.

Click here for the Derivatives Topic.

(Be sure to log in to the LSCU website using the gray Site Login box in the upper right corner before you click on the links above.)

Return to Top
League adds two more risk-based capital town hall meetings

LSCU & Affiliates has added the following two new town hall meetings on the proposed risk based capital rule from the NCUA.

May 8 - Muscle Shoals - 10:00 a.m. at TVA Community Credit Union/Main Office Location

May 20 - Miami Lakes - 8:00 a.m. - JetStream FCU

Like the previous meetings, they will educate credit unions on the new proposals, provide resources, and help them write a comment letter; which is due May 28.

For those credit unions that would like to attend, email LSCU & Affiliates VP, Compliance Training and Information Bill Berg (Florida) at 866.231.0545 ext. 1028 or Director of Regulatory Affairs Scott Morris (Alabama) at ext. 2165. The League also has a Risk Based Capital Resources page with information for credit unions.

Return to Top
In This Issue
Tuesday Edition
Update on Congressional letter on risk based capital
Washington wire
InfoSight spotlight: Accounts and Investment Channel Updates
League adds two more risk-based capital town hall meetings
LSCU & Affiliates Media

Risk-Based Capital Presentation
The League is holding risk-based capital meetings across both states ahead of the May 28 NCUA comment due date. This presentation is perfect to show to staff and boards.



Florida Financial Literacy Bill
In 2014, the Florida Legislature considered HB 367 and SB 212 which would require a half credit of financial literacy to graduate. Bill sponsors Sen. Dorothy Hukill and Rep. Heather Fitzenhagen talk about its need and how credit unions can help.

Upcoming Event Deadlines
May 19 Last Day to Register - LSCU Disaster Recovery Conference - Mobile, AL
May 19 Last Day to Register -  LSCU OFAC/BSA Basic & Advanced School - Birmingham, AL
May 21 Last Day to Register - LSCU Disaster Recovery Conference - Jacksonville, FL
June 18 Last Day for Early Bird Rate – LSCU BSA Essentials & Advanced Workshops – Mobile, AL
June 18 Last Day for Early Bird Rate – LSCU BSA Essentials & Advanced Workshops – Huntsville, AL
July 1 Last Day for Early Bird Rate – Southeast Supervisory Committee Conference – Point Clear, AL
July 15 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Mobile, AL
July 15 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Huntsville, AL
Upcoming League Events
TODAY Call Reports: Interpreting Changes
May 7 - ACH Challenges for RDFIs
May 13 - SAS Credit Union Conference
May 13 - Board vs Supervisory Responsibilities
May 14 - Auditing Your Loan Portfolio
May 15 - How to Avoid Lender Liability Claims
May 20 - Disaster Recovery Conference, Mobile AL
May 20 - OFAC & BSA Basic & Advanced School, Birmingham, AL
May 20 - New ACH Security Requirements
May 21 - OFAC & BSA Basic & Advanced School, Birmingham, AL
May 21 - Increasing Regulatory Requirements
May 22 - Disaster Recovery Conf, Jacksonville FL
Follow Us
© Copyright, League of Southeastern Credit Unions & Affiliates
Phone: 866.231.0545
3692 Coolidge Court | Tallahassee, Florida 32311
22 Inverness Cntr Pky, #200 | Birmingham, Alabama 35242
To ensure delivery, please add 'submissions@lscu.com' to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our white-listing page for more details.

To safely unsubscribe from this group, click here.
Home Action Center Contact Us CU Job Center Forward to a Friend Back Issues Twitter Facebook YouTube